How JustAnswer Works:

Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.

Get a Professional Answer

Via email, text message, or notification as you wait on our site.Ask follow up questions if you need to.

100% Satisfaction Guarantee

Rate the answer you receive.

Ask Alex J. Your Own Question

Alex J., Litigator

Category: UK Law

Satisfied Customers: 2860

Experience: LLB, LPC, DELF

13113900

Type Your UK Law Question Here...

Alex J. is online now

UK Company Law. I had my Company dissolved as I wanted to retire.

Resolved Question:

UK Company Law. I had my Company dissolved as I wanted to retire. I mistakenly failed to close the Bank account and under UK law these funds go to the Treasury. As I understand it I can apply to a court to have the company restored and then claim the money back so I have started filling in the forms. It seems fairly straight forward but I would appreciate some help with the 'Witness Statement' and have not been able to find a local law firm that knows about company restorations. Can any of your people suggest a practice near Watford, Hertfordshire, UK? Thanks

pilawyer :Hi there, I've restored quite a few companies. Are you aware that you will have to pay a total of £455 in court fees so its only worth doing if there was more than that left in the bank account in question..

Customer:

Yes I am aware. £36,000 to be recovered. Sorry if you had to wait for this response the pop up came up behind another screen. My problem is the model witness statement given in Appendix 'B' of TSol's Guide to Company Restoration uses the words "There is now produced and shown to me marked JHx a true copy of the ....." in sections 1 and 4. The words 'and shown to me' seem a bit odd as I will be the one providing the copies.

I am a company commercial expert and I can assist you with this if you wish?

Is there any reason why you are not doing this as an administrative restoration? If you dissolved the company in the last 6 years then an administrative restoration may be an option and it does not require a court application.

Even if the company was wound up voluntarily? I am not sure under what act/section the company was wound up but my accountant used the phrase "under the old rules, 1985". If Administrative Restoration is possibler then that would be a great help.

1) From your last reply - the assets are somewhere between the bank and the Treasury, I am not sure if they have left NatWest yet.

2) How was the company wound up - I am not sure of the details, my instructions to the accountant were just to wind the company up which he did after two years of my taking dividends to mitigate the tax burden. He went to some lengths to present the Company as a 'small' company in order to avoid a liquidator's fee of £5K. I was not sure whether this was achieved which is why funds were left in the account just in case. Next I knew v- lockdown! However I think that it was dissolved under section 652 of the 1985 act. By the way the funds left in the account were the director's loan account.

I have just found what made me think that an Administrative restoration is not possible, try the third question on:

Ask a Solicitor

Get a Professional Answer. 100% Satisfaction Guaranteed.

110 Solicitors are Online Now

Type Your UK Law Question Here...

characters left:

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).